Setting its sights on a public offering within the next year, Druva, which sells software so businesses can manage all of the information they’re forced by law to hold onto, has raised $51 million.
In the old days, data management and protection was an analog affair — or existed on big server farms inside a corporate firewall. Now, like everything else, forecasts are more… cloudy.
That’s where Druva plays. Basically its a service that manages data storage and warehousing for disaster recovery, compliance, and for those “break glass in case of emergency because everything is fried” situations. Built to integrate with Amazon Web Services and with Microsoft’s Azure hosting, the company has its proverbial finger on the pulse of services businesses use.
It may not be Snap glasses, but its a big market. Druva’s actually raised over $100 million for its technology and has attracted new investors like the investment arm of the Singaporean government’s Economic Development Board in its latest round. In fact, bigtime Indian investor Sequoia India is doubling down on its investment in Druva and led the most recent financing.
Other investors in the round include NTT Finance, Nexus Venture Partners and Tenaya Capital. The company said it would use the money for the things that companies typically raise money to do. Expanding products and services, hiring folks, ad sales and marketing are all on the agenda, according to a Druva announcement.
“It has been six years since Sequoia India’s first Series A investment,” said Shailendra Singh, Managing Director at Sequoia Capital India Advisors, in a statement. That commitment shows the deep faith that Sequoia has had in the company’s success.
Meanwhile, Singh’s Singaporean counterpart emphasized the market demand for Druva’s technology. “The risk of business data loss increases as workforce mobility becomes ubiquitous,” said Swee-Yeok Chu, chief executive and president at EDBI. “EDBI looks forward to supporting Druva as it expands into new markets in the region through Singapore.”
Oh yes, international expansion is on the agenda at Druva. In the past two years, the company has set up subsidiaries in Japan and Germany, and is looking to push into Singapore. Its customers include a host of big American companies and government agencies including NASA, NBC Universal, ServiceNow, and Stanford University.